Things to consider when buying a retirement property
Are you thinking about downsizing to a retirement property? If so, you’re in the right place! This is a step forward we guarantee you won’t regret taking.
What is a retirement property?
First thing’s first, what is a retirement property?
A retirement property is a safe, secure and comfortable home for the over 55’s situated within an Integrated Retirement Community. They provide stimulating activities and facilities to help residents stay healthy, active and independent for longer, as well as flexible care and support for those who need it.
The concept is still unknown to a large proportion of the population in this country, unlike those living in the US, New Zealand and Australia.
If you look at New Zealand, moving to an Integrated Retirement Community is an expected stage of later life. The difference is that in the UK, the idea of a retirement village is too often interpreted as an ‘old people’s home’ or ‘care home.’ Whereas over in New Zealand, they are seen as:
• Vibrant communities
• Where mature people with purpose come together
• A place to rediscover passions
• Being able to learn new skills
• Embracing connections with like-minded people
What does it cost to live in a retirement property?
Like most things in life, your finances must be considered before making any big decision, and choosing where to spend your retired years is no exception. You need to ensure your future income will allow you to live comfortably, but also enjoy the lifestyle you want.
ExtraCare’s retirement property prices are representative of the area in which they are situated, meaning prices could fluctuate depending on the housing market at the time. This will most likely be a big factor for those weighing up their options of where to buy a retirement property.
Are retirement properties a good investment?
We get asked this a lot, and the answer is yes. Buying a retirement property means you are buying into the lifestyle, the community, the security. A very worthwhile investment if you ask us!
Integrated Retirement Communities provide a solution for the needs of senior living, such as care if and when it’s needed, alongside a wealth of activities, restaurants, communal spaces and a sociable likeminded environment that is hard to find outside.
A support network
Many consider the idea of moving to somewhere completely new in retirement, but a factor you shouldn’t run too far away from is your family, friends, and support network, whoever that may be.
This is also where the beauty of an Integrated Retirement Community comes into play, especially an ExtraCare retirement community. We take pride in providing exceptional services and facilities, including care for those who may need it in years to come.
ExtraCare operates 20 retirement villages and smaller retirement housing schemes across the country:
• Bournville Gardens (Birmingham)
• Brunswick Gardens (Sheffield)
• Earlsdon Park (Coventry)
• Hagley Road (Edgbaston)
• Hughenden Gardens (High Wycombe)
• Lark Hill (Nottingham)
• Longbridge (Longbridge, Birmingham)
• Lovat Fields (Milton Keynes)
• New Oscott (New Oscott, Birmingham)
• Pannel Croft (Newtown, Birmingham)
• Reeve Court (Merseyside)
• Shenley Wood (Milton Keynes)
• Stoke Gifford (Bristol)
• St Oswald’s (Gloucester)
• Wixams (Bedford)
• Solihull (Shirley)
• Humber Court (Coventry)
• Rosewood Court (Wellingborough)
• Sunley Court (Kettering)
• Yates Court (Evesham)
Retirement communities should be incentivised says new report
ExtraCare’s Simon on running the first ever virtual London Marathon
ExtraCare’s Cluster Contract Manager, Simon Downton, is taking on the challenge of the virtual London Marathon this Sunday, 4th October to raise vital funds for our charity’s care, well-being and dementia services.